New route for Keystone XL

Article Excerpt

TRANSCANADA CORP. $41.29 (Toronto symbol TRP; Shares outstanding: 704.0 million; Market cap: $29.1 billion; TSINetwork Rating: Above Average; Dividend yield: 4.1%; www.transcanada.com) is working to reroute its Keystone XL pipeline after the U.S. State Department rejected the company’s plan to cross environmentally sensitive areas in Nebraska. If approved, the pipeline could begin operating in 2014. This setback may force TransCanada to write off the $1.9 billion U.S. that it has already spent on Keystone XL. Still, any writeoff would not hurt TransCanada’s ability to invest in other projects or prevent it from raising its $1.68 dividend, which yields 4.1%. TransCanada is a buy. buy…